Blockchain in telecom market size was around USD 32.68 million in 2021 and is now estimated to reach USD 960.82 million by 2026, growing enormously at a growth rate of 81.34% in terms of CAGR during the forecast period of 2022 - 2027.
Blockchain in Telecom Market Drivers & Restraints:
The market is growing mainly because of the significant presence and existence of several various telecommunication operators who have skilfully adopted the art of utilizing the blockchain technology to reduce identity, happening of fraud and improve the customer experience. Besides, the market is also receiving support as a result of increased venture capital funding, a significant increase in the number of start-ups entering the market, and the willingness of governments to regulate the blockchain. However, the main factor limiting blockchain growth in the telecommunications market is the growing concern about the authenticity of users, the uncertain status of regulations, and the lack of common standards. Besides, the restriction imposed by government agencies on the adoption of blockchain technology and the lack of common standards may hinder the market growth.
Recent Industry Developments
April 2018: SK Telecom, the largest telecommunications operator in South Korea, has announced it would provide services relating to asset management using blockchain technologies and create a platform for matching growing blockchain start-up companies and investors for the growth of technology and the associated sector.
August 2018: The Carrier Blockchain Study Group (CBSG) announced that Axiata, PLDT, PT. Telin, Turkcell, Viettel, and the Zain Group have agreed to jointly explore and build a multi-operator global cross-carrier platform and ecosystem.
March 2017: The technology giant IBM has made a collaboration announcement with European banks to set up a platform for financial negotiations and trading based on blockchain technology.
Recently, Ripple Foundation has taken over XRP (the best-performing crypto in 2017) and has signed a contract with the largest banks to offer Ripple products. This will pave the way for the integration of cryptos in the banking sector. Binance, which has covered several countries to position itself as a global leader, has announced its intention to launch a beta version of its decentralized exchange (DEX) in early 2019. This, they say, is in anticipation of the development of portfolios of a guard that they feel are inevitable in the future. Custody portfolios will enable P2P commerce while continuing to deliver channel chain transactions. Meanwhile, heavyweights such as IBM, Starbucks, and International Exchange (IEC), started accepting crypto payments on their platforms.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2020 – 2026 |
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Base Year |
2020 |
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Forecast Period |
2022 - 2027 |
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CAGR |
81.34% |
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Segments Covered |
By Provider, Application, Organization Size, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
AWS (US), Guardtime (Estonia), IBM (US), Microsoft (US), SAP (Germany), Bitfury (US), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (US), Abra (US), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (US), Blocko (South Korea), Blockpoint (US), Blockstream (US), Chain (US), Filament (US), Huawei (China), Oracle (US), RecordsKeeper (Spain), Sofocle (India), SpinSys (US), and TBCASoft (US) and Others. |
The global blockchain in telecom market research report is segmented and sub-segmented as follows:
North America dominates the global telecom blockchain market, followed by Asia Pacific, which is growing rapidly at a faster pace registering some high growth rates during the forecast period.
Key Market Players:
The major blockchain in telecom market vendors include AWS (US), Guardtime (Estonia), IBM (US), Microsoft (US), SAP (Germany), Bitfury (US), Cegeka (Netherlands), Clear (Singapore), Reply (Italy), ShoCard (US), Abra (US), Auxesis Group (India), Blockchain Foundry (Singapore), BlockCypher (US), Blocko (South Korea), Blockpoint (US), Blockstream (US), Chain (US), Filament (US), Huawei (China), Oracle (US), RecordsKeeper (Spain), Sofocle (India), SpinSys (US), and TBCASoft (US).
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